Gift tax is a federal tax on the transfer of money or property to another person. Because of annual and lifetime limits, few people end up owing it. Many, or all, of the products featured on this ...

Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns. Here’s what you need to know about the federal gift tax and how much you can offer as a one ...

The federal gift tax only applies to highly affluent people who give away millions of dollars in assets or property over the course of their lives. If you want to give a child $30,000 to help pay ...

You Don't Have to Report Cash Gifts of up to $19,000 a Year Cash gifts can be subject to tax rates of up to 40%, depending on the size of the gift. The person making the gift is responsible for ...

Consequently, the trust maker must file a Form 709 gift tax return to report the completed gift to the IRS. Example. A trust maker has property worth $13.61 million. They make a completed gift of ...

Bob Carlson researches all facets of retirement finances. Gift tax returns could be the most misunderstood, neglected, and overlooked part of estate planning. There are many people who know estate ...

It’s a little more complicated than that though, so read on to learn just how the gift tax works. The gift tax is a hybrid tax on gifts and other transfers. It partially overlaps with the estate ...

The good news is that the Internal Revenue Code provides methods for those seeking to transfer wealth to their loved ones while minimizing tax liabilities through the Federal annual gift tax ...